NIFTY Descending broadening wedge in daily chart

NIFTY DAILY CHART

• NIFTY descending broadening wedge tomorrow's support area is around 4850-4865
• The target for the triangle in 5 minutes which broke its support is also coming around 4850.
• So tomorrow if nifty holds 4850 we may see a rally from this area.
• Any thing below 4850 is very bearish for the short term.

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TRIANGLE in nifty 5 minutes has broken

• NIFTY triangle has broken on the down side.
• This one is targeting 4850 region.
• was not able to post comments today for 2 reasons. Was sleeping after the night shift and was not able to see any comments when i got up. Sorry everyone.
• Our target on the break of 4951 was achieved at 4980 only briefly But i think some of u must have made some profits.

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NIFTY 5 minutes chart near support and resistance

UPDATED RESULT CHART FOR TODAYS TRADE

NIFTY UPDATED CHART

• ABOVE 4951 ONE CAN GO LONG
• BELOW 4931 ONE CAN GO SHORT

NIFTY five minutes chart day high and low

UPDATED CHART

NIFTY 5 MINUTES CHART

• Take a trade when the levels marked on chart are violated.

NIFTY Hourly chart near resistance and support areas

UPDATED CHART

NIFTY HOUR CHART

• NIFTY hour chart showing a trend line and a resistance line.
• Holding the trend line as support nifty may try to close above 5100 in the coming day's. 
• Bearish scenario would be a break of the trend line and support and a retest of the lows formed during this week.

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NIFTY 5 minutes chart

UPDATED CHART - III

UPDATED CHART - II

UPDATED CHART

• Nifty 5 minutes chart shows nifty at an important trend line and near resistance line.
• Break of either line will give direction for the short term.
• If the trend line holds it will break the resistance and will go above 5100.

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DESCENDING Broadening Wedge in NIFTY daily chart.

• We can see a Descending Broadening wedge pattern in nifty.
• Break out can be on either side..
• Broadening patterns are usually negative and breaks on the lower side. 
• But the statistics for descending Broadening wedge shows that this particular pattern has given more successful upside break outs.
• For target see the break out side. see the highest and lowest point within the pattern and add it to the break out point for going long, and opposite for going short. 

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